In 1999, the district bought the property for $3.85 million after Reynolds had filed for bankruptcy. At the time, the School Board said it needed the land for future schools.

But demand for new classrooms in the area has waned. Now the board is scrambling for cash because of a possible $33 million budget shortfall. The district is marketing the parcel on a government purchasing website, Present said.

The board had a big payday from selling another tract about a year ago. It collected $5.4 million for less than 1 acre in Palm Beach.